Answer the question(s)below based on the information in the following table,where the numbers represent the number of labor hours it will take to produce a unit of the given good. \[\begin{array} { | c | c | c | } \hline & \text { Spain } & \text { France } \\ \hline \text { Grapes } & 3 & 9 \\ \hline \text { Textiles } & 1 & 2 \\ \hline \end{array}\] -Refer to the table above.Once trade begins,a possible international price (i.e.terms of trade)for textiles in terms of grapes is

A) $5. B) 2/5. C) 2. D) 4/5. A) $5. B) 2/5. C) 2. D) 4/5.

Answer the question(s)below based on the information in the following table Country \[\begin{array} { | c | c | c | } \hline \text { Goods } & \mathrm { A } & \mathrm { B } \\ \hline \mathrm { X } & 3 & 9 \\ \hline \mathrm { Y } & 4 & 2 \\ \hline \end{array}\] (numbers indicate hours of labor per unit of output) -Refer to the table above.Country A has a comparative advantage in

A) beer. B) wine. C) both beer and wine. D) neither beer nor wine. A) beer. B) wine. C) both beer and wine. D) neither beer nor wine.

A) is the philosophy of free international trade. B) was a system of export promotion and barriers to imports practiced by governments, especially in the 17th and 18th centuries. C) was praised by Adam Smith in The Wealth of Nations. D) Both A and C. A) is the philosophy of free international trade. B) was a system of export promotion and barriers to imports practiced by governments, especially in the 17th and 18th centuries. C) was praised by Adam Smith in The Wealth of Nations. D) Both A and C.

Answer the question(s)below based on the information in the following table Country \[\begin{array} { | c | c | c | } \hline \text { Goods } & \mathrm { A } & \mathrm { B } \\ \hline \mathrm { X } & 3 & 9 \\ \hline \mathrm { Y } & 4 & 2 \\ \hline \end{array}\] (numbers indicate hours of labor per unit of output) -Refer to the table above.For trade to occur along the lines of comparative advantage,wages in A relative to wages in B (measured in the same currency)

A) must be at least twice but less than 3 times as great. B) must be less than three times as small. C) must be greater than $2 but less than $3. D) Need more information to answer. A) must be at least twice but less than 3 times as great. B) must be less than three times as small. C) must be greater than $2 but less than $3. D) Need more information to answer.